20
May
11

‘chrysler lines up $7.5 billion to repay loans’

ABC: Chrysler Group LLC could repay most of its government loans as early as next week after raising $7.5 billion from bank loans and bond sales.

The company said last month that it intended repay the U.S. and Canadian governments during the second quarter. It announced the financial details on Thursday. Chrysler could repay the government as early as Tuesday if the deals close as expected.

…Chrysler took $10.5 billion from the U.S. government to survive two years ago, and it has repaid some of the money. The refinancing will allow it to retire a $5.9 billion balance on the U.S. loans and $1.6 billion to the governments of Canada and Ontario.

…Chrysler’s action is the latest in the long comeback of the Detroit auto industry after the recession put its future in doubt … Earlier this month Chrysler announced first-quarter net income of $116 million, its first profitable quarter since 2006. Its sales are up nearly 23 percent this year….

More here


9 Responses to “‘chrysler lines up $7.5 billion to repay loans’”


  1. 1 UT Austin Liberal
    May 20, 2011 at 10:27 am

    BOOYAH!!!!!!.. “Who You Gonna Thank?….. Barack Obama!!!!! 🙂

  2. 3 SUE DUVALL SMITH
    May 20, 2011 at 10:39 am

    THIS IS ANOTHER ‘YEEHAAAAAAAAAAAAAAAAAAAAAAAH’ MOMENT FOR OUR ‘ECONOMIIC EMERGENCY’ WONDER…THE PREZZZZZZZZZZZZZZZ!!!!!! BOEHNER IS PROBABLY GOING TO CLIMB IN HIS TANNING CASKET AND KEEP THE LID CLOSED FOR AWHILE!!!! TEE-HEEEEEEE!

  3. 5 Regster
    May 20, 2011 at 11:13 am

    Chipsticks,

    This is why the President’s judgment on big issues turns out to be the correct one. He sees the big picture: paying attention to consequences and details and ramifications to actions taken today. Our future depends on us getting him re-elected with BOTH chambers of Congress and local legislatures filled with reasonable and progressive minded big thinkers.

    Thank you for your site and constant updates!!

  4. 6 GGail
    May 20, 2011 at 12:12 pm

    This is GOOD NEWS! Thanks Chipsticks for posting good news such as this! It helps those who cannot see “what has POTUS done for me lately”.

  5. 7 vitaminlover
    May 20, 2011 at 9:13 pm

    MY President has done it again!

  6. 8 nathkatun7
    May 20, 2011 at 11:12 pm

    Really wonderful News! Now let’s see how right wingers and holier than thou left wingers spin this positive news into negative attacks on the President.

  7. 9 HZ
    May 20, 2011 at 11:51 pm

    This is wonderful news. Our President is thinking all the time of how we can become better. He also thinks of how he can help the working class. Remember when he said we cannot afford to not help the auto companies. I think we have a very smart President and a great team working for him. Good news.


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